Forex brokers in Canada
7 of the 97 brokers we rate hold a licence from the Canadian Investment Regulatory Organization (CIRO), and 67 in total will open an account for someone in Canada. The gap between those two numbers is the most useful thing on this page.
How this page is builtWe hold each broker's own list of the countries it will not serve, so "accepts you" means "does not exclude you" - not a promise your application will be approved. Local regulation is read from the licences each broker publishes. Both lists are in rating order, and brokers holding no licence at all are left off entirely.
Regulated in Canada
These 7 brokers hold a licence from the Canadian Investment Regulatory Organization (CIRO). That is a different proposition from a broker that merely accepts your application: a regulator in your own country supervises the entity holding your money, and you have somewhere local to complain when it goes wrong.
Plus500FCAASIC+138.9/10Get startedFind out more
CMC MarketsFCAASIC+58.0/10Get startedFind out more
FOREX.comCFTC/NFAFCA+67.7/10Get startedFind out more
QuestradeCIRO7.4/10Get startedFind out more
FortradeFCAASIC+47.3/10Get startedFind out more
Interactive BrokersSFC (Hong Kong)6.5/10Get startedFind out more
OANDACFTC/NFAFCA+46.4/10Get startedFind out more
What that licence actually protects
CIRO oversees Canadian investment dealers directly, and very few international brokers hold the registration - which is why this list is short.
Retail leverage is capped at set per instrument by CIRO margin rules rather than one headline ratio. Brokers advertising far more are offering it through entities outside Canada, and which entity takes your account is decided by where you live rather than by which you would prefer.
Client accounts at CIRO dealers are covered by the Canadian Investor Protection Fund if the firm becomes insolvent.
None of it protects you from losing money on your own trades. It protects you from the firm failing, misusing client money or refusing to deal with a complaint - the risks you cannot manage yourself.
| Broker | Regulators | Founded | Client money segregated | Negative balance protection | Compensation scheme |
|---|---|---|---|---|---|
| Plus500 | FCAASICCySEC+12 | 2008 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible Cyprus clients |
| CMC Markets | FCAASICBaFin+4 | 1989 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; EdW protection up to €20,000 for eligible German clients; CIPF protection for eligible Canadian investment accounts |
| FOREX.com | CFTC/NFAFCAASIC+5 | 2001 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; CIPF protection for eligible Canadian clients; ICF up to €20,000 for eligible CySEC clients; no equivalent statutory US forex compensation scheme |
| Questrade | CIRO | 1999 | Yes | No | Canadian Investor Protection Fund (CIPF), generally up to CAD $1 million per eligible account category |
| Fortrade | FCAASICCySEC+3 | 2013 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; CIPF protection for eligible Canadian clients; ICF up to €20,000 for eligible Cyprus clients |
| Interactive Brokers | SFC (Hong Kong) | 1978 | Yes | Yes | SIPC up to $500,000 including $250,000 cash limit for eligible US securities accounts; jurisdiction-specific schemes elsewhere |
| OANDA | CFTC/NFAFCAASIC+3 | 1996 | Yes | Yes | Jurisdiction-dependent; eligible UK clients may receive FSCS protection |
Every broker that accepts clients in Canada
67 brokers, in rating order. The 7 with a local licence are included here too, so this is the whole picture rather than the remainder.
TabTradeFSC (Mauritius)9.3/10Get startedFind out more
AvaTradeCentral Bank of IrelandASIC+89.2/10Get startedFind out more- Plus500FCAASIC+138.9/10Get startedFind out more
eToroFCACySEC+58.8/10Get startedFind out more
EightcapASICFCA+48.7/10Get startedFind out more
easyMarketsCySECASIC+38.6/10Get startedFind out more
MultiBank GroupASICMAS+68.5/10Get startedFind out more
GO MarketsASICCySEC+18.3/10Get startedFind out more- CMC MarketsFCAASIC+58.0/10Get startedFind out more
IGFCAASIC+88.0/10Get startedFind out more
FXOpenFCACySEC7.9/10Get startedFind out more
FP MarketsASICCySEC+47.9/10Get startedFind out more
LibertexCySECBaFin7.8/10Get startedFind out more
IronFXASICFSC (BVI)+17.8/10Get startedFind out more
AxiASICFCA+27.8/10Get startedFind out more
ACY SecuritiesASICFSCA (South Africa)7.8/10Get startedFind out more
TMGMASICVFSC (Vanuatu)+27.7/10Get startedFind out more- FOREX.comCFTC/NFAFCA+67.7/10Get startedFind out more
SwissquoteFINMAFCA+57.7/10Get startedFind out more
ExnessCySECFCA+97.7/10Get startedFind out more
Blueberry MarketsASICFSC (Mauritius)+17.6/10Get startedFind out more
Charles SchwabSECFINRA+17.6/10Get startedFind out more
EC MarketsFCAASIC+37.6/10Get startedFind out more
WebullSECFINRA+17.6/10Get startedFind out more
HYCMFCADFSA (DIFC)7.6/10Get startedFind out more
SkillingCySECFSA (Seychelles)7.5/10Get startedFind out more
Trade.comCySECFCA+27.5/10Get startedFind out more
Trading.comFCAASIC+27.5/10Get startedFind out more
InstaForexFSC (BVI)7.5/10Get startedFind out more
AAAFxMISA (Comoros)7.4/10Get startedFind out more
T4TradeFSA (Seychelles)7.4/10Get startedFind out more
STARTRADERASICFSCA (South Africa)+37.4/10Get startedFind out more
LiteFinanceCySECFSC (Mauritius)7.4/10Get startedFind out more- QuestradeCIRO7.4/10Get startedFind out more
OctaCySECFSC (Mauritius)+27.3/10Get startedFind out more- FortradeFCAASIC+47.3/10Get startedFind out more
Focus MarketsASICFSC (Mauritius)7.2/10Get startedFind out more
FXCCCySECMISA (Comoros)+17.2/10Get startedFind out more
FXOROCySEC7.2/10Get startedFind out more
Global PrimeASICVFSC (Vanuatu)7.2/10Get startedFind out more
tastyfxCFTCNFA7.2/10Get startedFind out more
Accendo MarketsFCA7.2/10Get startedFind out more
FinecoBank of ItalyCONSOB+17.2/10Get startedFind out more
ATC BrokersFCACIMA (Cayman Islands)+17.1/10Get startedFind out more
SpreadexFCA7.1/10Get startedFind out more
Trade NationFCAASIC+47.1/10Get startedFind out more
Capital IndexFCA7.1/10Get startedFind out more
VT MarketsASICFSCA (South Africa)+27.1/10Get startedFind out more
TopFXCySECFSC (BVI)+17.0/10Get startedFind out more
ADS SecuritiesCMA (UAE)7.0/10Get startedFind out more
iFOREXCySECFSC (BVI)7.0/10Get startedFind out more
OrbexFSC (Mauritius)FSA (Seychelles)6.9/10Get startedFind out more
PU PrimeFSA (Seychelles)FSC (Mauritius)+26.8/10Get startedFind out more
Fintrix MarketsFSC (Mauritius)6.8/10Get startedFind out more
FXGiantsFSC (BVI)6.7/10Get startedFind out more
FXCessNot on record6.7/10Get startedFind out more
FXDDNot on record6.6/10Get startedFind out more
Ox SecuritiesNot on record6.5/10Get startedFind out more- Interactive BrokersSFC (Hong Kong)6.5/10Get startedFind out more
PepperstoneASICFCA+56.5/10Find out more- OANDACFTC/NFAFCA+46.4/10Get startedFind out more
EquitiFCASCA (UAE)+46.4/10Get startedFind out more
VantageASICFCA+36.4/10Get startedFind out more
City IndexFCAASIC+16.3/10Get startedFind out more
Trading 212FCABaFin+36.3/10Get startedFind out more
BlackBull MarketsFMA (New Zealand)FSA (Seychelles)6.2/10Get startedFind out more
FBSFSC (Belize)6.1/10Get startedFind out more
Funding an account from Canada
3 of these brokers record Interac among their funding methods. A domestic transfer is usually same-day and free where an international wire is neither, so it is worth more than it looks when two brokers are otherwise close.
Check the withdrawal routes as well as the deposit ones. They are frequently not the same list, anti-money-laundering rules generally require funds to return the way they arrived, and the difference only becomes apparent at the point you want your money back.
Trading from Canada
It is better protected, which is not quite the same thing. CIRO oversees Canadian investment dealers directly, and very few international brokers hold the registration - which is why this list is short.
Client accounts at CIRO dealers are covered by the Canadian Investor Protection Fund if the firm becomes insolvent.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
67 of the 97 brokers we rate do not list Canada among the countries they restrict, and 7 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the Canadian Investment Regulatory Organization (CIRO), retail leverage is capped at set per instrument by CIRO margin rules rather than one headline ratio. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside Canada, and which entity takes your account is decided by where you live rather than by which you would prefer.
3 of these brokers record Interac among their funding methods, which usually means same-day deposits and no international transfer fee.
Check the withdrawal side as well. The routes are frequently not the same list, and the difference only shows up when you want your money back.
It is better protected, which is not quite the same thing. CIRO oversees Canadian investment dealers directly, and very few international brokers hold the registration - which is why this list is short.
Client accounts at CIRO dealers are covered by the Canadian Investor Protection Fund if the firm becomes insolvent.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
67 of the 97 brokers we rate do not list Canada among the countries they restrict, and 7 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the Canadian Investment Regulatory Organization (CIRO), retail leverage is capped at set per instrument by CIRO margin rules rather than one headline ratio. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside Canada, and which entity takes your account is decided by where you live rather than by which you would prefer.
3 of these brokers record Interac among their funding methods, which usually means same-day deposits and no international transfer fee.
Check the withdrawal side as well. The routes are frequently not the same list, and the difference only shows up when you want your money back.